Do you think it would hurt the U.S. economy if we let the financial banks fail

I was just skimming through an article on yahoo, and it looks like congress came up with a plan of action for this bailout. They call it a rescue, but I still call it a bail. In the end, it seems as if Ol' King Henry has gotten his wish after all... that is of course, with a few restrictions.

Yes, the bailout IS going to be passed. Instead of posting a long droning article on the goods, I'll list the key points and then link you to the article. Overall, I am very disappointed at this agreement.

• The plan calls for the Treasury Department to buy deeply distressed mortgage-backed securities and other bad debts held by banks and other investors. The money should help troubled lenders make new loans and keep credit lines open. The government would later try to sell the discounted loan packages at the best possible price

• At the insistence of House Republicans, some money would be devoted to a program that would encourage holders of distressed mortgage-backed securities to keep them and buy government insurance to cover defaults

• To help struggling homeowners, the plan requires the government to try renegotiating the bad mortgages it acquires with the aim of lowering borrowers' monthly payments so they can keep their homes.

• Also, the government would receive stock warrants in return for the bailout relief, giving taxpayers a chance to share in financial companies' future profits.

Here is something that caught my eye from the article which had my stomach in knots. (below)

"Money for the rescue plan would be phased in, he said. The first $350 billion would be available as soon as the president requested it. Congress could try to block later amounts if it believed the program was not working. The president could veto such a move, however, requiring extra large margins in the House and Senate to override."

So that basically means that Congress has the authority to stop payments if the rescue plan proved to be faulty. Even still, the President can stop that from happening. So even if this plan is a total disaster, the Executive branch still has the upper hand. So much for checks and balances.

Seriously, I want to know what you think. Do you think these institutions should deserve a bailout. Do you really think that if we let these banks fail, we let the economy fail. Can't we just let them fail? Why take on a risk of risky business. I'd love to hear your comments. It will help me gain some perspective on this matter.

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I could not resist

...but I had to share this HILARIOUS video. As many of you might guess, I'm Indian. Although I am Indian, I really cannot speak my native language fluently. My native tounge is Hindi and Gujatri. As you know, India has over a thousand dialects. If you've watched in Indian movie, then you're pretty aware that its common that in the middle of the movie, the actors break out into song and dance in the middle of a poppy field.

This video is from a South Indian Movie. This is what us English Speakers hear, and trust me, it is too funny to keep to myself :)

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Remembering Paul Newman

"I'd like to be remembered as a guy who tried - who tried to be part of his times, tried to help people communicate with one another, tried to find some decency in his own life, tried to extend himself as a human being. Someone who isn't complacent, who doesn't cop out." Paul Newman

When a legendary actor passes away, a small part of Hollywood dies too. On September 27th, 2008, Paul Newman passed away at the age of 83 from cancer. Considered to be perhaps one of the greatest actor of the 20th century, Newman has acted in over 65 movies for more than 5o years. Even as he grew older, he still carried his presence with energy, charm, and confidence.

Newman was more than just an actor, he was one of the most important actors that defined his generation. He was an actor, film director, entrepreneur, humanitarian, and an auto racing enthusiast.

Today is certainly a sad day for Hollywood and Newman Fans alike.

To read an in depth article here

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Sansi, a better alternative to oven mits

Today, as I was pouring hot water over my ramen noodles with my fat oven mit, I poured some scalping hot water onto my other hand. Hah! What good is an oven mit if your hand is going to get boiled?

Then I thought back to that handy dandy utensil my mom had in her kitchen. You won't find it in the aisles of WalMart, nor will you get it in a kitchen department store in America. This helpful utensil is only sold in India and over the internet through several online stores.

What on earth am I talking about here? The utensil that would have saved my hand from becoming cooked is a Sansi. That's what my mom always called it. A sansi is a stainless steel picker upper, if you will, of hot items. Now how is this better than oven mits? Well the grip on a pot or pan is much better, especially for those pots and pans that are without handles. Sure oven mits are great for pulling cakes and cookies out of the oven, but a sansi ensures that contents of a hot pot will not be dumped on you.

If you are interested in obtaining one, just visit this site. Don't worry, they are not overly expensive. The most you will ever pay for one is 15 dollars (and I think that's an extreme scenario)

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Train with me online

Folks, its that time, summer has ended, and fall is here. However, just because swimsuit season is over, does not mean our work out regimens have to be. A good, balanced work out not only tones your body, and helps you reduce weight, but it also improves your mood. Studies show that people who regularly exercise show a boost in moods and lower rates of depression. The benefits of exercise are just endless, but to sum it up, you'll be a lot healthier. Sounds like a pretty good deal, doesn't it?

Train with me online is an excellent support site dedicated in helping you meet your weight loss goals. Thousands of members have access to fitness tips, exercise video demonstrations, healthy recepies and even a members forum. Getting into shape may be difficult, but you don't have to do it alone. Think of this website as your own private personal trainer. Members are allowed to save exercises to their profile, thus enabling them to compile a work-out series. The exercises are conveniently organized according to emphasis on body part.

The best part of it all, is, it's FREE! Yes that is right, you do not need to pay a single dime to reap the benefits of this. Sorry if I sound like an ad, but it has helped me figure out what exercises to do. If you're like me, then you want to know if an exercise you're doing is correct. It is a life saver for those who are at loss on which exercises to do, what exercises benefit which body part, and what is healthy in terms of diet. Although it is free, there are a few things you may want to invest in if you don't have them already

• Free weights (for your toning exercises)
• A good pair of gym shoes
• A exercise ball
  
• A yoga mat

Just because you no longer have to look good in a beach dress, does not mean you should stray from your health goals. After all, you have the holidays to look stunning, confident, and most of all, healthy.

Happy fitness!

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Wamu goes down under

Considered to be the biggest bank failure in American history, WaMu (Washington Mutual Bank) the FDIC claimed WaMu's assets and then sold most of the companies to JP Morgan, now the second largest bank in America. The fall of the bank is due to several factors. After the fall of The Leham Brothers, WaMu customers withdrew earnings approximating 16.7 billion dollars in a ten day period. The panic and uncertainty which caused this massive money withdrawal, left Wamu unable to liquidity their assets.

In the long run, WaMu's failure was due to the mismanagement and misinformed bets on the mortgage market. Due to their risky debts and tumbling mortgages, JP Morgan has dropped the loan portfolio to 31 billion. This however can change if the company decides to take advantage of the bailout IF it goes through.

For current WaMu customers, you are still able to resume regular banking. According to Shelia Bair, (FDIC chairman) what this means for customers is the combination of two banks.

For an in depth article on WaMu's fall, read article

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R.I.P. checks and balances

R.I.P. checks and balances

If you're unsure whether or not checks and balances are still alive, say your prayers. It seems as if the system which prevents branches of government from taking unprecented powers has finally been put to rest. The approximately 2-3 page bailout bill grants unlimited power to our Ol’ King Henry

In a recent posting I posted uncertainties about the 700 dollar billion bail out, but the more I read about this bill, the more uneasy and skeptical that a bailout will change anything. I am convinced that this is simply trickery and robbery of my hard earned tax dollars. It is infuriating to see the government hand over a blank check to these companies (mind you, that’s OUR money on that blank check) and then not give its tax payers squat in return. Paulsen voices sympathy towards tax payers, but that simply isn't enough, not after asking us to give up money we need so the fat cats of Wall Street can feed their wallets. Where was the bailout when over a million of us got laid off? Where was the bailout for parents who lost their health insurance and couldn't take their kids to the doctor? Where was the bailout when millions of Americans slipped from the middle class into the slums of poverty? Why on earth didn't Paulsen run to congress asking for a blank bail out check to save us? Apparently the American people aren't worth saving, but companies like Fannie Mae, Freddie Mac, and AIG deserve unwarranted money. I have read and reread through the draft, and I see nothing about compensating tax payers.

So let me get this straight Paulsen, you are asking me, an average person, sinking in this economy, to give up approx 2,000 – 3,000 of my money so that irresponsible companies can continue on with their business. I don’t think so. If its one thing I was taught, its taking responsibility for actions. If you f’d up, then YOU pay the price, not somebody else. It is insulting to sit in front of congress, ask for a huge sum of money, and then have a poor bill to back it up. If these companies fail, let them fail. As Sen. Bernie Sanders stated in his excellent speech to congress, “If companies are too big to fail, then they are too big to exist.”

What is even more frustrating for an average American is the unlimited powers this bill grants to Paulsen. View text draft of the bill. If this were a college paper, I would give it an F for poor preparation and complete lack of plan. The bill is vague, fuzzy, and has no indications how tax payers will get compensated for this Armageddon of a bill. http://www.nytimes.com/2008/09/21/business/21draftcnd.html

The bill states that courts or other agencies will NOT be allowed to review this act. "Decisions by the Secretary pursuant to the authority of this Act are non-reviewable and committed to agency discretion, and may not be reviewed by any court of law or any administrative agency." So that basically means if the government wants to use that money in a fraudulent way, it can go ahead and do that. Checks and balances cannot bother to interfere with the fat cats of Washington and the actions of this faulty administration. First it was called a bailout, now they are referring it to a rescue plan. Perhaps the word bail was unsettling to Americans. However, renaming it something else is no different. A wolf in sheep's clothing is still a wolf.

By asking congress (ultimately THE PEOPLE) to have courts NOT review the bill, the administration looses their credibility to the American People. Their supposed claims are that they want to fix the economy, and the only way to do that is to pass the bill. If that is the case, why keep everything hush hush? What possibly could Paulsen do that would allow him execute this bill behind closed doors. If he wants to fix this mess, at least have the decency to do it in the open. Doing the opposite only proves you have something to hide.

Case in point, the administration is openly stealing money. As I said before, you fuk up, then you pay up. Perhaps we need to go through a quick recap in the Great Depression, because that is exactly where we will end up of our careless government is not careful.

Sen. Ron Paul said it best when he wrote “The only thing we learned from history, I am afraid, is that we don’t learn from history.”

It’s time Bush and his hazardous buddies get knocked off their high horse. Contact your state reps and say no, no, no, a million times no to this bill!

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Start off your laughs with The Office Gang

Yes! It is FINALLY here, New Office Season Premiere Tomorrow!

I remember a few years ago when a friend was so adamant about me watching OFFICE, I would dismiss it, and go back to whatever I was doing. I’ve glanced at it a few times here and there, and I just didn’t get the humor. It took at least 5 or 6 shows to get into it and now…

And now… I am a huge fan of this show. The humor is a bit dry, but the dialogue is phenomenal! I’ve gone from hating Dwight to adoring him and his almost always loyalty to Michael Scott. Jim and his hilarious jokes have won me over to this show. If you have not seen a few shows, and watch an episode now! (www.hulu.com ) It takes a while to get into it, but you’ll be doubling over with laughter, especially when you see the episode where Jim hides Andy Bernard’s cell phone within the ceiling tiles.

I am impatiently awaiting the season premiere, and although it is one day away, I have never been so excited for anything in my life.

How will Jim ever propose to Pam when Andy stole the lime light?

Will Michael and the new HR lady be more than working aqunatinces, and how will that rub off on Jan?

Will Michael be introduced into the baby's life?

What will poor farmboy Dwight Schrute do, will his already broken heart mend now that his ex might get married to another man.

oh the questions, the questions. And I will finally start to get some of these answers tomorrow!

If you're an Office Fan, say hi!

Don't forget to watch the Season 5 premiere tomorrow on NBC.

and now, I leave you with one of my all time favorite clips from The Office ;)

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An average American's take and undecided view on the 700 billion dollar bail.

If the Bush Administration couldn’t make any more mouth dropping, eye popping decisions, this one definitely takes the cake.

I don’t know about the rest of you, and I can’t speak for the rest of you, but I can speak for myself. Quite frankly, I am immensely angry at Paulsen’s effort to convince congress to accept the 700 billion dollar bailout. Doesn’t that cost more than the total cost of the IRAQ war? Let’s see, a 700 billion dollar bail out means that’s 3,000 dollars per taxpayer. It is in fact, the largest bailout since the Great Depression. You need more than 3 pages to validate that much of a bailout. What exactly are tax payers getting from this bailout? Money is already tight for a lot of Americans, and the last thing we is to see our hard earned money pull failing financial companies out of the hole. Why should tax payers have to take financial responsibility for the irresponsibility’s of these companies? If they want a bailout, then they need to provide an immediate incentive or something to tax payers. If we’re footing this bill, we need something in return.

I understand that the economy is in peril, and I do realize the intended purpose of the bailout is to save the falling economy, but in reality, will it really work? The Bush Administration does not display a promising track record, and its decisions have cost us unjustified tax dollars. Is this bailout any different? I, including many Americans, want to know if the bailout is really a good idea, and if it will actually help in the long run. Do these companies have any plans so that it doesn’t happen again, and if so, what will they do to convince tax payers that the bailout is worth it? The administration’s quick, 2 year plan bailout seems to lack a strategic game plan. Either that or I must be blind and am not able to understand the sheer brilliance of it. I am not that economically savvy, but something stinks about this plan. This is a matter needs to be looked over carefully, and I believe other alternatives should be considered.

I am a bit unsure of how I feel about this bailout. I feel really skeptical that this is the right thing for the administration to do. Hopefully some of you can shed some light, how do you feel about the bailout?

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A mixed bag of random postings.

Well, this post is somewhat of a mixed bag of a post. I wanted to let my readers (yes if you’re reading this… you’re a reader) know about some changes coming up.

One change, I have not decided if I want to implement yet. I guess I’ll ask you guys. I want to change the title of my blog to my original one. Does God want you to believe in Him?” I got the idea when I read one of Lenoard Cohen’s poems, and it just stuck in my head. Or… do you think I should stick with the blog header (title) I have now.

Yay or Nay?

The next change is that I have started another blog. It is not a personal blog, but more of a blog for parents and teachers, or anyone that loves books. I was an education major, and many of my college courses taught me just how wonderful books are with stimulating learning. I started this blog today, so it is a working process. The main gist of the blog is to summarize the book, give out my 2 cents, and a possible extension activity from the book. If you’re a parent, some of these might be fun activities to do with your kids. My goal is to add 1-2 entries a day whenever I have computer access. I will not post up the blog link just yet, however, if you are a entrecard user, I believe I have linked my blog. I will make my blog “official” on here, once I’ve hit a certain number of entries.

The other change deals with me not being able to blog as much as I would like to. When I am home, I tend to blog a lot. However, I have been traveling a lot between the northern part of Illinois and the Southern Part of Illinois. My boyfriend is doing his internship in order to become a funeral director, so he basically gets called when somebody dies. I stay with him in Tower Hill in his mother’s log cabin in the middle of nowhere because there really is nothing for me to do at my apartment. I will return to blogging in a week or two, and then I might be gone again for some time. Just wanted to let my entrecard droppers know, that if I did not drop on your blog, and you dropped on mine, don’t worry, I’ll get to it eventually.

Anyway, that’s about it.

Thanks for reading folks!

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